Former banker Phil Tarimo has joined Dow Schofield Watts to launch a new debt advisory arm.
Tarimo will lead the new service, DSW Debt Advisory, which is aimed at medium-sized companies seeking debt funding of £20m or above. It will initially operate from the firm’s Northern offices but with the aim to roll out nationally.
Tarimo, who was the North of England regional managing director for corporate and structured finance at Royal Bank of Scotland, also helped to found Deloitte’s debt advisory business in 2005 which was the first of its type outside London.
He went on to Clydesdale and Yorkshire Bank where he became UK Head of Working Capital Solutions and a member of its leadership team. Most recently he was an executive board member at AIM-listed DF Capital.
Dow Schofield Watts said DSW Debt Advisory will help companies and private equity firms raise funds to support acquisitions, growth or simply to refinance to increase liquidity.
Tarimo said: “Having worked in large corporate environments, I am looking forward to dealing with businesses on a more personal, one-to-one basis. We know many companies are currently looking to refinance to give themselves additional headroom in view of the uncertainties they face in a post-Brexit environment.
“Given the bewildering array of different funders and products in the market, most businesses will be unaware of the full range of options open to them. Our aim is not just to manage the fundraising process but to add real value by helping them to find the most appropriate sources, negotiate the best deal and get ahead of their funding requirements.”
James Dow, founding partner of Dow Schofield Watts, added: “It is great to be able to welcome someone of Phil’s calibre on board. He is the only specialist of his type within the North who has both operational board-level experience in banks and across the full range of banking products.
“We know that his expertise will be welcomed by many companies in the region and will be a valuable addition to the extensive range of services we offer.”